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tv   Asia Business Report  BBC News  January 10, 2024 3:30am-3:46am GMT

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mandatory power naps to boost productivity. welcome to asia business report. we begin with bitcoin today and how a fake post by the official social media account of the us securities and exchange commission sent the cryptocurrency�*s price for a bit of a ride. it was posted on the sec�*s x account, claiming the commission had approved an eagerly awaited financial product. that was followed moments later by another post that said the account had been compromised and the news was fake. the sec says it will work with law enforcement investigators regarding the unauthorised access. here's more from our business correspondent, erin delmore. if you're in the crypto world or curious about getting into it, then a spot bitcoin
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etf has been on your radar. it allows people to bet on bitcoin�*s gains and losses, even if they do not own bitcoin themselves. us regulators are widely expected to approve the new exchanged traded funds this week. so, when a tweet was posted from the sec account, saying essentially that, it was noteworthy. it was also wrong. the sec and its chair quickly posted on x that the sec account was compromised and the regulator had not yet approved the listing in trading of spot bitcoin exchange traded products. the erroneous tweet also included a quote from the chair. a second tweet that also said $ btc. bitcoin�*s ticker poster was posted but was then almost immediately deleted. for bitcoin cosmic value, a bit of a ride. the value claim nearly $48,000 on the false news and go back down to 16,000 with reality.
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now to the growing fallout from the midflight incident involving a boeing 737 max 9 plane on friday. the boeing boss has acknowledged boeing made mistakes and it would work with regulators to make sure that it cannot ever happen again. hundreds of flights have been cancelled in the united states after airlines were ordered to ground and inspect their boeing 737 max 9 planes. earlier, i spoke to flightglobal�*s asia managing editor, greg walden, and he told me this incident is a real black eye for the american plane maker. it certainly has an impact for the airlines involved. airlines are having to scramble to backfill that capacity. the much greater impact is on boeing. 2023 was a year we saw boeing start to recover from the pandemic as well as the previous 737 max crises. 2023 was actually a very good year. 2024 was supposed to be the year that boeing really got its mojo back. this is a real black eye
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at a very inconvenient time. as you said, the company also had those two clashes two years ago which affected boeing's reputation. do you see competitions like airbus and comac gaining more market share because of this? airbus has had a very strong run in the narrow body segment. is where the a320 and 737. the a320 has had a good re—entry into service. especially for narrow body airlines that have a longer range. boeing does not have anything that competes in that segment. airbus has been able to steal a march on boeing in this case. comac is a bit far behind as well. they have not put as many aircraft — i think they are still putting their feet under the hood. long—term comac could emerge as a competitor especially in the china market.—
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china market. the summit in gu'arat china market. the summit in guiarat is _ china market. the summit in gujarat is expected - china market. the summit in gujarat is expected to - china market. the summit in gujarat is expected to gather investors and is ahead of general elections that will take place in a few months. let's bring in a reporterfrom delhi. how is the summit being seenin delhi. how is the summit being seen in india?— seen in india? organisers of the accord _ seen in india? organisers of the accord of _ seen in india? organisers of the accord of the _ seen in india? organisers of the accord of the biggest. the accord of the biggest business events in india, heated addition of what's called the gujarat summit, home city of minister millar narendra modi, as you mentioned. it is less additional about 100,000 bidders including business leaders and political leaders from various countries. if you see the social media timeline of the indian prime minister, it has him welcoming various delegates and delegations who becoming an from various countries and we expect a presentation from over 130 countries here in india for the summit. you also have big companies like microsoft,
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google, and one key area focus will be on chip in india and is an area where india wants to increase its footprint, an area it perceives to be still lagging behind. there has been chatter about whether elon musk may attend and whether there may attend and whether there may be a possible agreement of sorts for test to enter the indian market but that's something that we have not received confirmation for. from a global view as big companies look to diversify beyond china, and look for alternatives, they built into india as a viable alternative of sorts as an emerging market they can invested so this is india's big pitch the global markets to talk about themselves and from a domestic point of view and internal clinical point of view it is crucial because it is the last bit of it before the next general elections that prime minister modi can talk about the big—ticket investments it can back and showcased to its electorate. can back and showcased to its electorate-— electorate. thank you for the u date. electorate. thank you for the
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update. inflation _ electorate. thank you for the update. inflation was - electorate. thank you for the update. inflation was a - electorate. thank you for the update. inflation was a big i update. inflation was a big topic around the world in 2023 and is why interest rates have been raised aggressively. according to international monetary fund, inflationary has been lower than average in asia and part of the reason is less amounts for goods and services after the pandemic. the head of the asia—pacific division of the asia—pacific division of the imf told me he expects inflation in the region to come within central bank software plus targets of the year. as you know, inflation around the world was rising in 2020 and for the asia pacific. the difference was it started rising later and then it went down faster in asia compared to other parts of the world. within asia, for instance withinjapan inflation started rising and in china it is negative in november it came back 0.5%. what we expect inflation
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to come down around 2.7% by end 2024 and around central bank targets across most countries the region. japan has long been known for its relentless work culture where employees are reluctant to go on holiday and almost never leave the office before their bosses. yet for more than 50 years japan has ranked lowest in employee productivity among the g7 group advanced economies. tokyo corresponded shaimaa khalilfound out that some workplaces are now trying to do things a little differently. japan�*s salary man and its notorious rush hour have become symbols of this workaholic society. pressure and expectation so intense on employees here that the country coined the expression "death from overwork". and yet for decades this relentless artwork has not translated into overall productivity. this small company however is the opposite of anything you imagine a japanese workplace would be.
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"pillow" has a power nap policy. the company not only makes and sells pillows, it also encourages employees to use them at work. i can't quite believe i'm saying this but this is the most relaxing office space i have ever been in and the secret is this. i'm speaking softly because employees around me are taking their maps for the day and i'm about to do the same. i will be honest, it was not easy for me to doze off there, but after his 20—minute nap this employee told me how this helps him work better. translation: in the afternoon, especially after lunch, _ i get sleepy and i'm not as focused. i also have to pick up my children from preschool so i cannot stay longer for overtime. i need to be more productive within the limited time i have. for me, napping is important. it helps me work more efficiently. some co—working rental spaces
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have gotten the idea. but here, you could pay for a space to work or rest using the spacelike energy pod. translation: i'm not sure what it is, but it is too - difficult for most japanese people to take naps at work. it still feels very wrong. like they are slacking off. i wanted to solve that issue. i think here it may be easier for someone to take a nap among people they do not know. 0ne japanese manufacturer has even addressed the issue of space or lack thereof. it may look like a phone booth, but this is the derived nap pod where you sleep standing up. but try to let my employees use it too during the lunch break. by standing up, you take some load off your back. i always tell my friends i can sleep anywhere, even standing up.
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this is the first time i am actually doing it. one big challenge facing the power nap champions is society's reluctant to change. tempting as it is, dozing off even for a little bit still feels like a big leap for japan�*s infmaous work culture. before we go, breaking news that a x, formerly twitter, has confirmed the sec�*s account was compromised but said it was not because of any breach of its systems. a lot more on that story as we find out. this is it for this edition of asia business report. thank you so much for watching. voice-over: bbc news, - bringing you different stories from across the uk. this agricultural land between wetherby road and the river wharfe could be the site of a new housing development in tadcaster. peter is one of around 300 campaigners against the plan. so this piece of land here covers 35
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hectares and gladman developments are proposing to build over 400 houses on it. the water levels are gradually seeping up onto this land, which would be a disaster to build on. i think it would | definitely make the flooding issue worse because they are going i to concrete over - what is now wetland which can drain through, - whereas houses it doesn't drain through, it willjust run off. you can see today it's completely underwater. so i don't know how they would propose to build pathways because presumably they would get washed away on an annual basis. gladman developments declined an interview, but say the planning application for the 11 arches development follows over a year of consultation and that there will be measures to manage surface water and increase flood resilience. and all built development is located in a flood zone one, identified by the environment agency as areas of low risk.
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voice-over: for more - stories from across the uk, head to the bbc news website. hello, i'm ellis with the catch up. tonight, the hottest year on record and a missing dog returns, and the actress who dashed 150 miles to save the day. our top story first. 2023 was the hottest year on record. climate scientists say, with the increasing temperatures coming close to crossing the critical limit of 1.5 celsius above preindustrial levels. scientists say records have tumbled like dominoes and it is likely temperatures exceeded those of any period at least for that 100,000 years. heatwaves, droughts and wildfires have all intensified across the planet. this recent temperature risk is mainly linked to the rapid switch to conditions known as el nino
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where warmer surface waters in the east pacific ocean moves additional heat into the atmosphere. this happened on top of a long—term human—caused warming. some good news now, an actress saved the day after travelling more than 150 miles to perform a lead role in the musical evita in leicester. after its leading lady and understudy became ill. jessica was on stage just hours after being helped to help out. i had just literally got out of the bath and had my hair in a towel and i got a text saying, "hi, there, happy new year, we are struggling for an evita today as one of our actresses is sick who normally play yet. would be up forjumping in the car and to help? time now for ten seconds of a wandering dog returning home. the springer spaniel�*s disappearance started a 16—hour search in cumbria. hundreds of people helped with some using drains and thermal imaging cameras.
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despite all those efforts, he wandered home hours later. you are all caught up. goodbye for now! hello and welcome along to sportsday. coming up on the programme,
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advantage middlesbrough in the english league cup. they take a slender lead into the second leg of their semifinal clash against chelsea. we will have the latest from the masters snooker at alexandra palace where the defending champion edged through his first round match. and we will find out how yorkshire county cricket club's takeover offer by a consortium, headed up by its former chairman, colin graves, is causing controversy. you are very welcome along to the programme, wherever you are watching around the world. the cup football is continuing around europe and in england, chelsea have suffered a blow in the league cup. the premier league side were beaten 1—0 by championship side middlesbrough in the first leg of their semifinal

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